Chapter 01 Practice Quiz.docx - Chapter 01 Practice Quiz Result You have answered 7 questions correctly You have scored 24 Not-for-profit organizations

Chapter 01 Practice Quiz.docx - Chapter 01 Practice Quiz...

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Chapter 01 Practice Quiz Result You have answered 7 questions correctly. You have scored 24%. Not-for-profit organizations do not face any of the challenges that profit-seeking businesses do. True False What is business? Business consists of all profit-seeking activities that provide goods and services necessary to an economic system. Business consists of marketing products that people want. The term business only describes companies that are profitable and excludes government or private organizations. Business is defined as activities that produce the most good for society. How are not-for-profit organizations different from profit-seeking businesses?
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Not-for-profit organizations operate only in the public sector. Not-for-profit organizations focus on goals other than generating profits. Not-for-profit organizations always have a deficit of funds. Not-for-profit organizations hardly focus on social or ethical responsibilities. The U.S. Postal Service and the American Heart Association are classified as _____. businesses not-for-profit organizations local philanthropic endeavors corporations People that supply capital receive factor payments in the form of _____.
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rent wages interest profit Capital includes: money that a firm raises for expansion. employees, both current and future. land, building sites, and mineral deposits. technology, tools, information, and physical facilities. Which of the following inputs would NOT be considered a factor of production?
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